Rising Fed rate hike expectations, fueled by oil prices, lift the USD and push the Swiss Franc to its lowest level in two weeks.
The USD/CHF pair extended its weekly uptrend for a fourth straight session, reaching a two-week high of approximately 0.8045 during Thursday’s Asian trading. A stronger US Dollar, driven by heightened expectations of a Federal Reserve rate hike amid rising oil prices, underpinned the move.
The pair’s advance follows a consistent upward trajectory, with bullish sentiment supported by a favorable fundamental backdrop. Prior sessions saw the Franc weaken as traders priced in tighter US monetary policy, contrasting with the Swiss National Bank’s more cautious stance.
Market reaction remained muted in early trading, though the Dollar’s strength continued to dominate currency flows.